#EV #Stocks Driving Higher: (NASDAQ: $MULN) (NASDAQ: $TSLA)
(NYSE: $NIO) (NYSE: $F) @Mullen_USA @Tesla @NIOGlobal @Ford
Government,
Consumers and Investor Sentiment Align on #ElectricVehicles
Vancouver,
Delta, BC, October 20, 2022 - Investorideas.com, a
leading investor news resource covering EV and automotive stocks releases a
special report featuring Mullen
Automotive, Inc. (NASDAQ:
MULN), covering the continued growth of the EV market as
government policy and infrastructure plans sync up with consumer and investor
interest in the EV space.
Read this article,
featuring MULN in full at https://www.investorideas.com/news/2022/renewable-energy/10201EV-Stocks.asp
The
Global Electric Car Market was valued at USD 105 Billion in 2021 and according
to Vantage
Market Research's recent analysis; the market is
projected to attain a value of USD 354.80 Billion by 2028 at a Compound Annual
Growth Rate (CAGR) of 19% during the forecast period 2022 to 2028.
According
to the global analysis, the electric car industry is considered a viable
alternative to today's automobiles in the near future to address environmental
issues. There are now more than 16 Million electric cars running across the
globe, consuming approximately 30 terawatt-hours (TWh) of electricity per year.
Seeing
the future of the sector, Mullen
Automotive, Inc. (NASDAQ: MULN), an emerging
electric vehicle manufacturer, recently
announced the US Bankruptcy Court approval on
Oct. 13, 2022 of its acquisition of electric vehicle company ELMS’s (Electric
Last Mile Solutions) assets in an all cash purchase. In the Chapter 7 approved transaction, Mullen
will acquire ELMS’s manufacturing plant, all inventory and intellectual
property.
From the news:
The Mishawaka, IN factory that forms part of the Company’s acquisition,
previously produced General Motors Hummer H2 SUV and SUT and also subsequently
contract manufactured the Mercedes-Benz R-Class vehicle. This makes it the
perfect fit for production of the Mullen and Bollinger portfolio of consumer
vehicles. The ELMS asset acquisition, and the recent acquisition of the
majority ownership of Bollinger Motors, gives Mullen the ability to integrate Bollinger’s
vehicle platforms, B1 and B2 along with Mullen’s FIVE and FIVE RS platforms
into an already existing and capable high volume manufacturing facility. As a
result, this will accelerate the launch of the Bollinger B1, B2 retail vehicles
by 12 plus months.
Manufacturing
optimization will include moving the Mullen FIVE EV Crossover production to the
Mishawaka Factory from the Tunica, MS facility. Mullen FIVE production is
planned to begin production in 2024. Tunica will now become the Commercial Manufacturing
Center and capitalize to produce all Mullen and Bollinger Class 1 to 6
commercial vehicles.
With
the additional Manufacturing capacity, total production volumes are expected to
exceed Mullen’s previous business plan projections. The commercial portfolio is
expected to increase over 50% with the addition of the ELMS assets and the
retail portfolio is expected to more than double with the addition of Bollinger
vehicles and the manufacturing capacity of Mishawaka.
The Company’s
majority ownership acquisition of Bollinger Motors was closed in August 2022
with a combination of stock and cash. The ELMS acquisition will be completed as
an all-cash purchase.
“Mullen’s
acquisition of Bollinger was one of the largest transactions of its kind in the
EV market. Upon closing the ELMS transaction, the Company will be in a position
to strategically leverage all its acquired assets to shorten its production
path and aggressively expand into the commercial and consumer EV market,” said
David Michery, CEO and chairman of Mullen Automotive.
This follows
Mullen’s previous acquisition of a
controlling interest in EV truck innovator Bollinger
Motors Inc. The purchase price was $148.2 million in cash and stock for a
60% controlling interest, giving Mullen the majority ownership of Bollinger
Motors. This acquisition was MULN's first EV acquisition, propelling it into
the medium-duty truck classes 3-6, along with the B1 and B2 sport utility
trucks.
Market research
reports show that growth in the sector is going to significantly build as Mullen follows this
acquisition path.
In
a
recent article, cleantechnica.com
reported on EV sales in the US; “Fully electric vehicles have grown and grown
in recent years. More and more models hit the market each month, and some of
them are selling in decent volumes. Meanwhile, Tesla’s strong growth continues
and one wonders how high Tesla can go. It’s on the verge of being one of the
10 top selling auto brands in the United States, an
achievement that is likely to be reached in the 4th quarter of 2022.”
According to a recent Zack’s report,
this could mean good
news for EV manufacturer Tesla Inc. (NASDAQ:
TSLA), as right now expectations are low for the
September-quarter earnings season that's now underway, suggesting potential
upside for shares of companies that do come in ahead of analysts' estimates,
while raising risks for companies that fail to meet even modest expectations.
From the
report:
"This week and next week are just crucial and full of earnings," said
Peter Tuz, President of Chase Investment Counsel in Charlottesville, Virginia.
Monday's major rally on Wall Street
was just the latest in an unusually volatile year. The S&P 500 has recorded
daily gains or losses of more than 2% 39 times so far in 2022, compared to
seven times last year and 44 times in all of 2020.
Shares of Tesla jumped 7%, with the
electric vehicle maker's report late on Wednesday set to be one of this week's
main attractions.
Wall Street's most heavily traded
stock, Tesla has tumbled over 17% since Oct. 2, when it disclosed third-quarter
vehicle deliveries that missed estimates as logistical challenges overshadowed
its record deliveries. However, analysts still expect Chief Executive Elon Musk
to deliver a 60% jump in quarterly revenue and a 48% surge in
"adjusted" earnings before interest, taxes, depreciation and
amortization.
As Wall Street becomes more and more
focused on the EV market, newcomers and longtime rivals in the market are
taking advantage of the opportunity Tesla is creating to attract more
investors.
Major
automotive giant and now a major player in the EV market, Ford Motor Company (NYSE: F), recently reported
its September 2022 US sales results.
Ford
electric vehicle sales continued to outpace the segment, with sales up 197.3
percent. Ford share of the electric vehicle segment was up in September 3.1
percentage points over last year with 7.0 percent share. In September, F-150
Lightning continued as America’s best-selling electric pickup; E-Transit was
also America’s best-selling electric van in September.
“Ford
continued to see high-demand vehicles turning at record rates in September,
while developing electric truck and van leadership and extending our overall
truck leadership. Demand remains strong with new retail orders rapidly
expanding. We are very pleased with the work from our dealers, employees and
the area’s first responders, as they are working tirelessly to recover in
Florida from Hurricane Ian,” stated Andrew Frick, Vice president, Sales,
Distribution & Trucks, Ford Blue.
NIO
Inc. (NYSE:
NIO)
recently made headway into four more European countries after entering Norway
in 2021. At a recent event in Berlin, NIO
announced extending its services to Germany, Netherlands,
Denmark and Sweden.
The selling
strategy is different from the Norwegian market, wherein the automaker sells
its electric vehicles (EVs) directly. Instead, in the new markets, it has
introduced a subscription-based model through which customers can lease
vehicles and rent NIO’s three models, namely two sedans and one SUV. NIO has
stated that since tax policies are not lucrative, it has decided on the new
strategy.
The subscription
period can be as short as a month and the longest being 60 months.
Additionally, customers will get access to other services by NIO, as well as
use NIO Houses. The Berlin NIO House is expected to open soon and new
facilities will eventually open in other markets.
The subscription
plans have been designed holistically to allow users to enjoy a hassle-free
experience. It comprises comprehensive insurance, maintenance, winter tires, a
courtesy car, battery swapping and the flexibility to upgrade battery services.
Besides getting the
vehicles charged, customers have the provision for swapping their dead
batteries for fully charged ones at NIO's swapping stations. In September-end,
the company opened its first battery swap station in Germany’s Zusmarshausen on
a motorway between Munich and Stuttgart.
Also, the company
opened its first European plant to manufacture swapping stations in Hungary
last month. NIO has laid out an ambitious plan to install at least 120
battery-swapping stations in Europe by the end of 2023. By 2025, it aims to build 1,000 swapping
stations overseas, most of which will be in Europe.
According to recent
commentary, shares of the Chinese electric vehicle maker recently
rose as investors reacted to comments made by Chinese
President Xi Jinping about his country's focus on new technologies.
This is comparable
to stock bumps we saw after the announcements earlier this year from Joe Biden
and other world leaders and can be what is expected moving forward as we
continue to see real movement, legislation and funding to make EV’s the future
of transportation.
Investor
Ideas has a free directory of renewable energy stocks including EV and green
automotive stocks for Investors to research. https://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
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